Piedmont Investment Advisors LLC Acquires Shares of 1,507 Raymond James (RJF)
Piedmont Investment Advisors LLC acquired a new stake in Raymond James (NYSE:RJF) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 1,507 shares of the financial services provider’s stock, valued at approximately $135,000.
A number of other institutional investors and hedge funds have also modified their holdings of RJF. Millennium Management LLC raised its position in Raymond James by 75.1% in the 1st quarter. Millennium Management LLC now owns 1,140,478 shares of the financial services provider’s stock valued at $101,970,000 after purchasing an additional 489,310 shares during the last quarter. Eaton Vance Management raised its position in Raymond James by 100.3% in the 1st quarter. Eaton Vance Management now owns 622,047 shares of the financial services provider’s stock valued at $55,617,000 after purchasing an additional 311,461 shares during the last quarter. Summit Trail Advisors LLC raised its position in Raymond James by 6,254.4% in the 1st quarter. Summit Trail Advisors LLC now owns 240,131 shares of the financial services provider’s stock valued at $240,000 after purchasing an additional 236,352 shares during the last quarter. Wells Fargo & Company MN raised its position in Raymond James by 4.9% in the 1st quarter. Wells Fargo & Company MN now owns 4,199,384 shares of the financial services provider’s stock valued at $375,467,000 after purchasing an additional 197,156 shares during the last quarter. Finally, Maltese Capital Management LLC bought a new position in Raymond James in the 1st quarter valued at $14,753,000. Hedge funds and other institutional investors own 70.77% of the company’s stock.
Several brokerages have issued reports on RJF. Zacks Investment Research upgraded Raymond James from a “sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and set a $112.00 price objective for the company in a research report on Wednesday, May 16th. Citigroup upgraded Raymond James from a “neutral” rating to a “buy” rating in a research report on Friday, July 13th. Finally, ValuEngine cut Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, June 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $103.75.
NYSE RJF opened at $89.12 on Tuesday. The firm has a market capitalization of $13.13 billion, a PE ratio of 14.37, a PEG ratio of 0.80 and a beta of 1.67. Raymond James has a 52 week low of $74.14 and a 52 week high of $102.17. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.44.
Raymond James (NYSE:RJF) last released its earnings results on Wednesday, July 25th. The financial services provider reported $1.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.72 by ($0.17). The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.83 billion. Raymond James had a net margin of 10.87% and a return on equity of 15.66%. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the business posted $1.26 earnings per share. equities research analysts expect that Raymond James will post 6.6 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 16th. Stockholders of record on Monday, July 2nd were paid a $0.30 dividend. This is a boost from Raymond James’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Friday, June 29th. Raymond James’s dividend payout ratio (DPR) is 22.94%.
Raymond James Company Profile
Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.
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